Lavender Residence in District 12 offers a modern heritage lifestyle
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A dazzling Art Deco boutique project by local developer FLJ Property, Lavender Residence is quickly gaining momentum for buyers who are looking for an affordable, centrally-located home in District 12.
It was released to the market at the end of June in the Freehold mixed-use development consists of four retail units on the ground floor and 17 apartments for residential use and the basement car park. It is situated near the intersection between Lavender Street as well as Kempas Road, and the road’s dual frontage highlights its preserved preservation Art Deco architecture.
Lavender Residence is the latest boutique project located in The Boon Keng neighbourhood, Lavender Residence is located close to a variety of commercial and transport centers, as well as a deep awareness of Singapore’s architectonic history, and the advantages of a mixed-use community.
Prime transport connectivity
The only new development launched in District 12 offers the wide range of public transport connectivity and closeness to the city’s center that Lavender Residence has to offer. It has three MRT stations that include Bendemeer, Boon Keng and Farrer Park — within walking distance, as well as several major highways and major roads serving the region residents are instantly connected to all areas on the island.
Bendemeer Station on the Downtown Line is just two stops away from the cultural and arts district of Bencoolen. The most prominent stations along this line are Fort Canning, Chinatown, Telok Ayer, and Downtown in the CDB and residents will appreciate the ease of traveling to downtown’s business district.
Residents can also take the North East Line at Boon Keng Station. It will take passengers to major malls for shopping in the Northeast region including the recently launched Woodleigh Mall, connected to Woodleigh MRT Station; and Nex shopping mall that is connected with Serangoon MRT Interchange Station.
The area is served by major roads and highways, such for Serangoon Road, Balestier Road, Lavender Road, and the Central Expressway (CTE). This makes getting into the CBD via car just a three-minute journey. It’s also simple to get to the upcoming health hub in Novena as well as in the Orchard Road shopping belt, and the Singapore Sports Hub in Kallang.
Art Deco architecture
In the beginning, the site comprised two storeys of conservation shophouses constructed in the Art Deco style during the 1940s. As a representation of Singapore’s early development the shophouses were preserved through the developer to honor their historic importance.
FLJ Property has spared no expense in bringing in the famous architecture company Park + Associates to oversee the delicate conservation efforts along with designing the new 6 storey back extension. The locally-based architecture company is careful to bring back its Art Deco architecture while incorporating various modern decorations and contemporary design elements in the construction.
This new approach to heritage conservation can be seen within The Heritage Series, a mix of five apartment units which are located on upper floors of the shophouses in conservation. The units range from one-bedroom to three-bedroom unit with a few dual-key options.
Two of the units were purchased by potential buyers at the launch in June this year. The one-bedroom + studio unit one-bedroom and study (dual key) unit and a three-bedroom Study (dual key) unit are on the market. Layouts for units maximise living space and minimize the amount of dead space like corridors. The interiors are created in a contemporary style featuring a selection of top-quality fixtures and fittings from Brandt Duravit Franke, as well as Hansgrohe.
A huge variety of units
The time that Lavender Residence was launched for auction at the beginning of June, buyers were interested in purchasing units within the brand new rear extension of six stories block that comprises nine apartments and three penthouses.
The penthouses proved to be a huge success and were all sold by June. They are comprised of a two-bedroom plus study (dual key) unit as well as a four-bedroom plus study unit and a five-bedroom plus study (dual key) unit.
The remaining units available range from study units with one bedroom with two bedrooms, two-bedroom units (dual keys) units as well as three bedroom (dual keys) units. The majority of units within the six-storey block are sold, and all remaining apartments are likely to be snapped up in the coming weeks.
Based on the developer the majority of buyers are interested in dual-key units because they give them the possibility of becoming an owner as well as landlord. In addition, it’s becoming more and more difficult to find dual-key units within the recent launches of private homes and this makes this model more sought-after.
Based on a compilation of rental caveats provided by EdgeProp Singapore, condos in the area have seen a surge in rental demand, which results in relatively high rents.
For instance, at the close by Sturdee Residences in the area, mean rent is $6.52 per month. which amounts to an average rental yield of 4%. The newest developments, like 1953 along Tessensohn Road have seen average rents of $6.17 per sq ft and rental yields of around 3.9%.
Investors and homeowners who are interested in investing at Lavender Residence will take advantage of the attractive rates that is set on the remainder of units, starting from $1,850 for a freehold development just minutes distance from downtownan affordable and competitive cost for the majority of buyers.